NEW YORK, June 05, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Axos Financial, Inc. (“Axos” or the “Company”) (NYSE: AX) on behalf of Axos stockholders. Our investigation concerns whether Axos has violated the federal securities laws and/or engaged in other unlawful business practices.
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On June 4, 2024, Hindenburg Research released a report about Axos. This report raised serious concerns about Axos' credit metrics, suggesting potential manipulation or distortion, particularly highlighting that the disclosed loan-to-value (LTV) ratios in commercial real estate were significantly lower than those of its peers. Hindenburg Research pointed out that Axos' LTV ratios were 17% less than the median average of nine similar financial entities. Furthermore, accusations from a former credit review officer, which were documented in litigation records, claimed that Axos habitually misrepresented the average LTV ratios of its loans to investors.
Following this report Axos' share price was trading down in pre-market trading on June 4, 2024.
If you purchased or otherwise acquired Axos shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
